If you are having issues with Media Manager installing, first check to make sure you have the .Net 4.0 FULL install.  

If the .msi still will not install, open the .msi kmediamanager in Orca, under "LaunchCondition" drop the only row listed.  Condition: Installed or MINFRAMEWORK <> ""  Description: To Continue please insatll (sic) .Net 4.0 or above. 

Our K2000 is on 3.5.76460

The Media Manager would not install on 3 different Windows 7 boxes for me, until I made this change.  Hopefully this helps someone else out.